IBO ZENNER GROUP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IBO ZENNER GROUP
Largest movements
- Receivables within one year -€147,332
down €147,332 (-18.7%), from €789,559 to €642,228
of which Trade receivables: -€123,751
- Tangible fixed assets -€75,493
down €75,493 (-4.9%), from €1.6m to €1.5m
- Current portion of long-term debt -€336,167
down €336,167 (-79.0%), from €425,282 to €89,115
- Other debts +€277,609
up €277,609 (+124%), from €223,339 to €500,948
- Debts after one year -€258,858
down €258,858 (-23.2%), from €1.1m to €857,093
- Tax, wage and social debts +€70,056
up €70,056 (+72.3%), from €96,885 to €166,940
- Reserves +€26,153
up €26,153 (+7.8%), from €335,173 to €361,326
- Taxes +€61,718
up €61,718 (+165%), from €37,400 to €99,118
- Gross operating margin +€58,286
up €58,286 (+24.1%), from €241,889 to €300,175
- Financial charges +€10,005
up €10,005 (+77.1%), from €12,970 to €22,976
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,374,425 | €2,145,793 | -€228,632 | -9.6% |
| Fixed assets | 21/28 | €1,566,258 | €1,475,765 | -€90,493 | -5.8% |
| Tangible fixed assets | 22/27 | €1,551,258 | €1,475,765 | -€75,493 | -4.9% |
| Land and buildings | 22 | €1,551,258 | €1,475,765 | -€75,493 | -4.9% |
| Financial fixed assets | 28 | €15,000 | - | -€15,000 | |
| Current assets | 29/58 | €808,167 | €670,028 | -€138,139 | -17.1% |
| Amounts receivable within one year | 40/41 | €789,559 | €642,228 | -€147,332 | -18.7% |
| Trade receivables | 40 | €671,837 | €548,086 | -€123,751 | -18.4% |
| Other amounts receivable | 41 | €117,722 | €94,141 | -€23,581 | -20.0% |
| Cash at bank and in hand | 54/58 | €18,165 | €27,800 | +€9,636 | +53.0% |
| Deferred charges and accrued income | 490/1 | €443 | - | -€443 | |
| Total equity and liabilities | 10/49 | €2,374,425 | €2,145,793 | -€228,632 | -9.6% |
| Equity | 10/15 | €504,773 | €530,926 | +€26,153 | +5.2% |
| Contributions | 10/11 | €169,600 | €169,600 | = | 0.0% |
| Reserves | 13 | €335,173 | €361,326 | +€26,153 | +7.8% |
| Distributable reserves | 133 | €335,173 | €361,326 | +€26,153 | +7.8% |
| Amounts payable | 17/49 | €1,869,652 | €1,614,867 | -€254,785 | -13.6% |
| Amounts payable after more than one year | 17 | €1,115,950 | €857,093 | -€258,858 | -23.2% |
| Financial debts | 170/4 | €1,115,950 | €857,093 | -€258,858 | -23.2% |
| Amounts payable within one year | 42/48 | €752,329 | €757,775 | +€5,445 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €425,282 | €89,115 | -€336,167 | -79.0% |
| Trade debts | 44 | €6,823 | €771 | -€6,052 | -88.7% |
| Suppliers | 440/4 | €6,823 | €771 | -€6,052 | -88.7% |
| Taxes, remuneration and social security | 45 | €96,885 | €166,940 | +€70,056 | +72.3% |
| Taxes | 450/3 | €96,885 | €166,940 | +€70,056 | +72.3% |
| Other amounts payable | 47/48 | €223,339 | €500,948 | +€277,609 | +124% |
| Accrued charges and deferred income | 492/3 | €1,373 | - | -€1,373 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,169 | €75,493 | -€676 | -0.9% |
| Other operating charges | 640/8 | €3,150 | €5,660 | +€2,510 | +79.7% |
| Non-recurring operating charges | 66A | - | €51,941 | +€51,941 | |
| Gross operating margin | 9900 | €241,889 | €300,175 | +€58,286 | +24.1% |
| Operating profit (loss) | 9901 | €162,570 | €167,081 | +€4,511 | +2.8% |
| Financial income | 75/76B | - | €2,020 | +€2,020 | |
| Recurring financial income | 75 | - | €2,020 | +€2,020 | |
| Financial charges | 65/66B | €12,970 | €22,976 | +€10,005 | +77.1% |
| Recurring financial charges | 65 | €12,970 | €22,976 | +€10,005 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €149,600 | €146,126 | -€3,474 | -2.3% |
| Income taxes | 67/77 | €37,400 | €99,118 | +€61,718 | +165% |
| Profit (loss) for the period | 9904 | €112,200 | €47,008 | -€65,192 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €112,200 | €47,008 | -€65,192 | -58.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.